Stock market

Last updated: 1:54PM EST Today's stock market selloff is picking up steam as we approach the final couple hours of this week's trading. As of 1:54 p.m. EST, ...

Remarkably, the Bank of Japan held its interest rate at -0.1%, in line with expectations. Asia-Pacific markets joined the sell-off and ended the trading session in the red. This is despite the good news that the U.K.’s gross domestic product (GDP) grew 0.3% in January, narrowly escaping a recession. EST, the Nasdaq 100 ( Meanwhile, European indices are also trading in negative territory following the banking sector sell-off in their U.S. A strong jobs report will also mean that the Federal Reserve will take on a more aggressive stance in its next Federal Open Market Committee (FOMC) meeting, scheduled for March 21-22, 2023. Experts were projecting nonfarm payrolls to grow by 225,000, a smaller jump compared to the 517,000 jobs added in January. On the other hand, if the numbers come in stronger than expected, the markets will bleed further. [XLRE](https://www.tipranks.com/etf/xlre)) was the session’s laggard, as it lost 3.2%. Additionally, the unemployment rate also inched up to 3.6% during the month. After recovering from an early selloff that saw stocks turn positive, indices now find themselves back in the red. Compared to yesterday, the market is pricing in a higher chance of a lower Fed Funds rate for June 2023.

The failure of Silicon Valley Bank comes as investors have been flipping between worrying about the economy and seeing an end to the recent market turmoil.

“What is happening to the banking sector is indicative of what investors fear could happen to other parts of the economy if interest rates continue to go up.” The yield on the two-year bond ended the week at 4.58 percent. The yield on the two-year U.S. Ron Temple, chief market strategist at Lazard, said that beneath the headline numbers were signs that wages continued to rise for portions of the labor force and that robust hiring remained a cause for concern. Higher interest rates weigh on stock prices, and raise the risk the Fed’s actions may tip the economy into a recession. Investors homed in on slower wage growth and an increase in unemployment, in part because more people are coming back to the labor force, two data points that suggest the Fed’s effort to slow the economy and rein in inflation may be working. The yield rose above 5 percent on Tuesday for the first time since mid-2007 after Mr. Powell, told lawmakers on Tuesday that the central bank might have to raise interest rates more than it expected, and possibly Banks can be especially vulnerable to rising rates, which can cause the value of their investment assets to fall, as was the case with SVB. The largest Wall Street banks held up better on Friday, with the concern focused on a handful of smaller institutions. The decision to close the bank followed whipsaw trading on Thursday that continued into Friday, after SVB said it needed to take immediate steps to shore up its finances amid a darkening environment for start-ups and other tech companies. The collapse of Silicon Valley Bank added to worries about the economy.

SVB Financial (SIVB), holding company for Silicon Valley Bank, crashed another 66% early Friday morning on growing fears of a bank run before the stock was ...

[AXP](https://research.investors.com/quote.aspx?symbol=AXP)) [PANW](https://research.investors.com/quote.aspx?symbol=PANW)) [JPM](https://research.investors.com/quote.aspx?symbol=JPM)) [CRM](https://research.investors.com/quote.aspx?symbol=CRM)) [Recent IBD Stock Of The Day](https://www.investors.com/research/ibd-stock-of-the-day/newr-stock-new-relic-boosts-data-analysis/), New Relic, is working on a flat base with a 80.98 buy point in the aftermath of the Feb. [strong fourth-quarter results](https://www.investors.com/news/technology/crm-stock-salesforce-earnings-salesforce-stock-q42022/). [IBD Leaderboard](https://leaderboard.investors.com/#/leaders/leadersnearabuypoint) watch list stock Palo Alto Networks continues to trade quietly in the handle after the stock's 12.5% surge on Feb. [Five Dow Jones Stocks To Buy And Watch Now](https://www.investors.com/research/dow-jones-stocks/) [4 Top Growth Stocks To Buy And Watch In The Stock Market Rally](https://www.investors.com/stock-lists/stocks-near-a-buy-zone/dow-jones-leader-salesforce-3-other-top-stocks-to-buy-and-watch/) [buy point](https://www.investors.com/how-to-invest/investors-corner/apple-stock-set-up-proper-buy-point-before-big-rally/) in a giant cup with handle amid a four-day losing streak, according to [IBD MarketSmith](https://www.investors.com/product/marketsmith/?artProdLink=MarketSmith) chart analysis. [JPM stock](https://research.investors.com/stock-checkup/nyse-jpmorgan-chase-jpm.aspx) shows a 92 out of a perfect 99 [IBD Composite Rating](https://www.investors.com/how-to-invest/investors-corner/stocks-to-buy-and-watch-ibd-composite-rating-top-growth-stocks/), per the [IBD Stock Checkup.](https://research.investors.com/stock-checkup/) The Composite Rating is designed to help investors easily find top growth stocks. [mixed Q4 results](https://www.investors.com/news/technology/orcl-stock-oracle-earnings-edge-above-estimates/). New Relic was recently an [IBD Stock Of The Day](https://www.investors.com/research/ibd-stock-of-the-day/newr-stock-new-relic-boosts-data-analysis/). [TSLA](https://research.investors.com/quote.aspx?symbol=TSLA)) traded down 0.5% Friday morning. [A pivotal jobs report from the Labor Department](https://www.investors.com/news/economy/why-a-soft-jobs-report-wont-save-the-sp-500-from-fed-hawks/) showed that the U.S.